Amstrad was founded in 1968 by Alan Sugar and initially produced low-cost consumer electronics and hi-fi equipment. It became a major supplier of set-top boxes to UK satellite TV provider Sky after Sky's 1989 launch. By the late 1980s, Amstrad had a substantial share of the UK PC market. In 2007, BSkyB acquired Amstrad, and Alan Sugar stepped down as chairman in 2008. Amstrad now focuses on manufacturing set-top boxes for Sky but also previously produced home computers, word processors, and notepads.